MOL sells 3 bulkers

MITSUI OSK Lines had to sell 3 bulkers to restore profits. Brokers have informed that the last week the company sold 2000-built Capesize bulker Mona River. 2 more 2006-built sister Panamaxes, Glory Power and Brilliant Sunrise also were sold.

30 days ago MOL offloaded 3 VLCCs - Kaimon II, Ryuohsan and Bandaisan. The net profit for the Japanese company is expected to be 50Bn yen ($504.4M) for the fiscal year, from record 178.8Bn yen losses for Fiscal Year 2012. The estimated price of Mona River was $16,4M while the other 2 vessels were sold for $19M.

Another Japanese owner, Doun Kisen, was said to have sold its 2009-built post-Panamax, Florence Lily, to Greek buyers for $22.7M. The vessel was taken back from Sanko Steamship, which is now make reforms to pay off debts.